LensCrafters 2013 Annual Report Download - page 194

Footnotes to the statutory financial statements as of December 31, 2013 Page 27 of 71
The depreciation rates applied and representing the useful lives of the related assets are as follows:
Description Rate
Office furniture and fittings 12%
Buildings 3%
Building Structures 10%
Telephone systems 20%
Generic Equipment 10%
Specific Equipment 8%
EDP Hardware 20%
Hardware PC Agenti 30%
Motor vehicles 25%
Industrial Equipment 25%
Non industrial equipment 6%
The depreciation rate has been valuated also in the year 2013 in order to confirm the adecuacy.
11. INTANGIBLE ASSETS
Balance at 12/31/2013 Balance at 12/31/2012
303,272,742 317,288,845
Total movements in net intangible assets
Description Balance at
12/31/2012
Increases
in year
Decreases
in year
Transfers in
year
Amortization
expense
Balance at
12/31/2013
Trademarks 240,722,990 41,154 (6,278,223) (27,538,428) 206,947,493
Software 51,616,005 23,606,335 (5,528,921) 12,611,766 (18,379,694) 63,925,491
Assets under development 13,949,850 12,125,042 (12,619,759) 13,455,133
Other 11,000,000 9,274,560 (1,329,935) 18,944,625
Total 317,288,845 45,047,091 (11,807,144) (7,993) (47,248,057) 303,272,742
The increases in "Trademarks" entirely refer to costs for their maintenance, while the decreases refer to disposal of the
Revo trademark, with a residual value of Euro 5,759,433, and of the Bright Eyes trademark, with a residual value of
Euro 518,790.
The residual value of trademarks at year end mainly comprises:
- Euro 72,864,589 for the Ray-Ban and Arnette trademarks with a remaining useful life of 12 years;
- Euro 118,582,420 for the OPSM trademarks with a remaining useful life of 15 years and 7 months.